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Gold/Mining/Energy : Strictly: Drilling and oil-field services -- Ignore unavailable to you. Want to Upgrade?

To: Mike from La. who wrote (28290)	8/25/1998 12:45:00 PM
From: Dragon 1	Read Replies (1) \| Respond to of 95453

To all, how come IO is never mentioned all morning on this thread while that stock gapped down from 14 to 10 at open and is now being shorted big time to 9 3/8 with the lowest being 8 1/4? Volume reaching 4 mil as I speak and the stock is still going down. Look for heavy pressure on MIND which has had a pretty decent runup since its low. It doesn't look pretty out there.

To: Mike from La. who wrote (28290)	8/25/1998 1:59:00 PM
From: Mike from La.	Respond to of 95453

Does anyone have info on the Nigerian thing. Have they resumed shipments? Mike from La.

To: Mike from La. who wrote (28290)	8/25/1998 2:21:00 PM
From: Badfinger	Respond to of 95453

Tax credits are just one thing that the industry will need to cox the major oil companys back to the US to explore. The environmental side is just another story. Having worked up around good old san franscico for years drilling natural gas wells, here is a story. We spent 10-15% of our budget for these wells to haul off the drill cuttings. Environmentally sensitive area you know. Well to make a long story short we paid about $50/ton to move and dispose of the drill cuttings to an approved sight because the cuttings were to "hazardous to touch the ground" even though we tested these cuttings and certified them as "clean." The rice farms in the Sacramento Valley begged to get these cuttings so that they could use them to seal the irrigation ditches. This was the normal practices for 20 years until it became against the law to use drill cutting this way. Anyway, the folks at the disposal sights sold the same cuttings to Ventura county, LA county, and, Santa Barbara county were they were used to cover land fills and make golf courses. Total cost to oil company +-$150,000 per average 10,000' well. In some areas, offshore, slope, rockies, you can double, triple, 10X these numbers without breaking a sweet these days. It takes all the profit from to many $1.00/gallons of gas to justify these costs these days. Don't get me wrong. I am not suggesting we change our approach to the environment. Just be aware that average citizens have "no" concept for the real costs of finding oil and getting it to the gas stations.